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Asia’s growth offers enormous opportunities for Canadian companies, but too many of them lag their foreign rivals in making inroads in the region, a new report says.
The report, “A Canadian national economic strategy for Asia”, points out that only half of Canada’s largest companies have operations in China, while all of the top U.S. companies do. Many Asian business leaders see Canada only as a link to the giant U.S. market, and our country has less brand visibility than smaller countries such as Switzerland or the Netherlands.
“It is no longer possible for Canadian companies to succeed in China by treating it as an interesting side bet. They need to start treating China as a third home market, after Canada and the United States,” the report states.
The report’s lead author was Dominic Barton, the Canadian-born worldwide managing director of McKinsey & Company, a global management consulting firm. His co-authors were Bruno Roy, managing partner of the firm’s Beijing office, and Bruce Simpson, co-leader of the McKinsey Global Operations Practice.
The report says that Canadian companies can improve their approach to doing business in Asia by:
- locating key senior executives in the region;
- ensuring that the CEO
The federal and provincial governments, businesses and the education sector must work together to position Canada as the destination of choice for top Asian students, says the head of one of Canada’s leading universities.
“Unprecedented demand for higher education in Asia today offers a multitude of opportunities for Canada,” Stephen J. Toope, President and Vice-Chancellor of The University of British Columbia, writes in a paper published today. The opportunities, he says, range from “institutional partnerships to facilitate research, to the recruitment of talented international students and researchers, to new markets for Canadian knowledge exports.”
Asia is already the world’s largest source of international students, and the number of Asians looking to study abroad is expected to increase significantly in coming years.
Canada’s universities have been increasingly successful in recruiting international students, whose numbers have more than doubled in the past decade to about 100,000. China is Canada’s top source country for international students, accounting for 19,100 full-time and 4,300 part-time students as of 2009. Other key Asian markets include India, South Korea and Japan. All told, international students contribute well over $6.5 billion annually to the Canadian economy through spending on tuition, accommodation and other expenses.
Nevertheless, competition for global … Read more »
Canada is in danger of losing ground in the global economy unless educators and governments convince more young people to pursue science-related careers, a new report suggests.
The report, “Competing in the 21st century skills race”, says that Canada faces a growing shortage of workers with university degrees in science, technology, engineering and mathematics, in large part because relatively few Canadian high school graduates choose to enrol in such programs.
The report cites a 2010 survey of Canadians aged 16 to 18, only 37 per cent of whom expressed an interest in taking even one science course at the post-secondary level.
“Our research indicates that Canadian students recognize the need for more people to study science, but that a majority of them are not themselves attracted to such programs or careers,” the authors say.
The report’s authors are Graham Orpwood, professor emeritus of education at York University in Toronto, Bonnie Schmidt, president and founder of Let’s Talk Science, a national not-for-profit organization, and Hu Jun, associate professor at the China National Institute for Educational Sciences in Beijing.
The authors acknowledge that Canada’s education system has many strengths. Literacy and numeracy rates are relatively high by international standards, … Read more »
Aboriginal peoples must be true partners in resource and energy projects, and Canadian companies should work with First Nations, Inuit and Métis communities to help them realize the benefits of economic development, the Canadian Council of Chief Executives (CCCE) says in a new report.
“Many of Canada’s richest resource and energy assets are found near Aboriginal communities,” says the report, copies of which were sent to all Canadian premiers and territorial leaders in advance of their meeting in Halifax later this month. Titled Framing an Energy Strategy for Canada, the submission offers a series of recommendations for a Canadian energy strategy.
The CCCE is the senior voice of Canadian business, representing the CEOs and entrepreneurs of 150 leading companies.
In its submission to the premiers, the CCCE acknowledges that Aboriginal peoples have “legitimate concerns” about major resource developments, “including implications for land claims, the impact on their communities and way of life, as well as on the land, air and water around them.”
At the same time, the report says that energy and other resource development projects can provide native communities with a wide array of benefits, such revenue-sharing agreements, equity interests, improved employment opportunities, training and service contracts … Read more »
Canada’s business leaders welcome today’s announcement that Canada has been invited to join the Trans-Pacific Partnership (TPP), a game-changing regional trade arrangement that has the potential to spur economic growth around the Pacific Rim.
“By signing on to the TPP, the federal government has taken an historic leap toward securing Canada’s long-term strategic interests in the Asia-Pacific region,” said The Honourable John Manley, President and Chief Executive Officer of the Canadian Council of Chief Executives (CCCE).
The CCCE is the senior voice of Canadian business, representing the CEOs and entrepreneurs of 150 leading companies.
“Over the next two decades, Asia’s rapid growth will transform the global economy, reshaping traditional patterns of international trade, pulling hundreds of millions of people out of poverty, and doubling the ranks of the world’s middle class consumers,” Mr. Manley said.
“Asia has become a powerful engine of global growth, and it is essential that Canada engage fully with the region during this remarkable period of economic and geopolitical transition.”
Mr. Manley congratulated Prime Minister Stephen Harper, International Trade Minister Ed Fast and Canadian government officials across a number of departments for their efforts over the past several months to ensure Canada’s entry to the TPP … Read more »
The Australian Industry Group (Ai Group) and the Canadian Council of Chief Executives (CCCE) today released a joint statement and two studies that recommend a suite of policy measures to promote increased bilateral trade and investment.
In recent years there has been a significant expansion in two-way investment between Australia and Canada, particularly in the natural resources and financial sectors. In view of that, and given Canada’s interest in joining the Trans-Pacific Partnership Agreement negotiations (TPP), the two business organisations concluded that both countries would benefit from a better understanding of the potential for enhanced trade and investment.
Ai Group and the CCCE submitted the statement and studies to the Hon Dr. Craig Emerson, Australian Minister for Trade and Competitiveness, and the Honourable Ed Fast, Canada’s Minister of International Trade and Minister for the Asia Pacific Gateway prior to their meeting in Canberra on Monday 30 May.
Ai Group Chief Executive, Innes Willox, said: “With the centre of global economic gravity moving to Asia, Australia should be making the most of its position in the region as an investment destination. We are well placed as a base for Canadian business seeking to engage with the region.
“Our statement offers many … Read more »
Canada’s agri-food sector has the potential to become a growth engine for the entire economy if the federal government moves quickly to negotiate preferential trade agreements with fast-rising Asian markets, a new report concludes.
“The rise of China, India and other emerging markets has dramatically changed the outlook for Canadian farmers and agricultural processors,” says Michael Gifford, Canada’s former chief agricultural trade negotiator and the author of the report.
Titled “Golden Opportunities and Surmountable Challenges: Prospects for Canadian Agriculture in Asia”, Mr. Gifford’s paper is the fourth in a series of reports commissioned by the Canadian Council of Chief Executives (CCCE) to explore the impact on Canada of Asia’s growing economic power.
The views expressed in the paper are those of the author and do not necessarily reflect the position of the CCCE or its members.
Mr. Gifford notes that, for decades, Canada’s agri-food sector has struggled with boom-and-bust cycles, frequent surpluses and low farm incomes. As in many other industrialized countries, agricultural production increased rapidly in the second half of the 20th century, outstripping population growth.
However, the rise of China, India and other emerging markets is driving major changes in the global agri-food market. Across … Read more »
More than 200 top CEOs, senior government officials, educators and other leaders from across Canadian society will gather in the nation’s capital later this year to map a strategy for Canada’s success in a world in which economic power is shifting to Asia.
“Canada in the Pacific Century,” a conference hosted by the Canadian Council of Chief Executives (CCCE), will take place at the new Ottawa Convention Centre on September 24 and 25, 2012.
The Co-Chairs of the conference steering committee are André Desmarais, Deputy Chairman, President and Co-Chief Executive Officer of Power Corporation of Canada, and Annette Verschuren, Executive Chair of NRStor Incorporated and former President of The Home Depot Canada and Asia. They are joined on the steering committee by: Joseph Caron, former Canadian Ambassador to Japan and the Peoples’ Republic of China, and High Commissioner to India; The Honourable David Emerson, former Minister of Foreign Affairs and Minister of International Trade; The Honourable Kevin Lynch, Vice-Chair, BMO Financial Group and former Clerk of the Privy Council; Indira Samarasekera, President and Vice Chancellor of the University of Alberta; and Janice Stein, Director of the Munk School of Global Affairs at the University of Toronto.
“Asia’s rise is driving … Read more »
Fiscally responsible 2012 budget includes targeted measures to improve Canadian competitiveness, CEOs say
OTTAWA, March 29, 2012 - The 2012 federal budget moves Canada closer to fiscal balance while taking steps to promote job creation and business investment, according to the Canadian Council of Chief Executives (CCCE).
“By restraining the growth in public spending, reducing regulatory overlap, improving Canada’s immigration system and enhancing support for business-driven research, the government is helping to build a stronger and more competitive Canadian economy,” said The Honourable John Manley, the CCCE’s President and Chief Executive Officer.
The CCCE is the senior voice of Canadian business, representing 150 chief executives and entrepreneurs from all major sectors and regions of the country.
“Budget 2012 builds on our country’s reputation for fiscal responsibility, while at the same time establishing a more positive environment for private sector investment and growth,” Mr. Manley said.
The CCCE welcomes the budget’s commitments to:
- Build a faster and more flexible immigration system aimed at meeting Canada’s labour market needs;
- Reform the review process for major economic projects to establish clear timelines and reduce regulatory duplication;
- Intensify Canada’s pursuit of new and closer trade relationships, particularly in emerging markets;
- Introduce targeted improvements to the foreign ownership review process that will strengthen investor confidence and enhance transparency;
Multinational corporations owned by the Chinese government typically operate not as puppets of the state or the Chinese Communist Party but like any other commercial firm, a new study concludes.
In fact, Chinese state-owned enterprises (SOEs) are “profit-driven to their core”, writes Margaret Cornish, a former Canadian foreign service officer who is now based in Beijing as Chief Representative and Senior Advisor of Bennett Jones Commercial Consulting Inc.
In a report published jointly today by the Canadian Council of Chief Executives (CCCE) and the Canadian International Council (CIC), Cornish challenges the widespread perception that Chinese SOEs are primarily motivated to serve Chinese national interests and foreign policy.
For example, critics often suggest that Chinese state-owned energy and mining companies are less concerned with generating profits than with locking up supplies of natural resources for China’s own use.
In practice, however, Chinese SOEs operate much like their private sector counterparts in Canada and elsewhere – buying and selling oil and minerals on a regional basis to the highest bidder “rather than automatically directing product to their home market,” Cornish says.
In the past two years, state-owned Chinese companies such as PetroChina, Sinopec and China National Petroleum Corp. have invested more than … Read more »